According to the annual Investment Intentions Survey, Sydney is now the number one choice for institutional investors in 2021. It showed that office properties are the most favoured type of investment in this city according to the 84% of respondents in the survey, with 100% of US investors saying they plan to invest in the city. And even with the 10% drop in office rents, rising incentives to occupiers, and vacancy rates continuing to rise in the city, investors are still going for it. With such a diverse range of suburbs in the city, there’s something for everyone which is why this survey isn’t as surprising. However, without an investment strategy and a thorough assessment of available properties tho fit your requirements, investing in the city can still be tricky.
If you’re looking to get involved in property investment in Sydney, you should know that it is relatively easier to understand and safer than the stock market, especially if you’re a beginner. But doing your due diligence is still a must! One way you can do that is by taking advantage of Matterport virtual tours which help you, especially in the initial stage of property hunting, as it quickly narrows your choices down. Virtual tours not only allows you to see if you like the layout and design of the interior, but it can also clue you in its overall condition. The great thing is you can do this through your computer or phone which means you can take multiple tours remotely which saves you the time and money on properties you won’t like.
Understand How Much Of A Focal Point The Harbour And The Beaches Are
Sydney’s harbour is one of the most recognizable Australian landmarks around the globe because of its uniqueness. Even within the country, there’s really nothing like it. Plus the fact that it’s a huge activity zone, considering that 150,000 vehicles pass through the bridge every day, makes it understandable why there’s so much focus on the area, especially for real estate investors.
Given its popularity for locals and tourists, investors would as much as possible go for properties in Sydney that has a view and proximity to the harbour. These properties, whether commercial or residential tend to have higher value because of the view and proximity to the harbour.
The harbour is also a visual border for the North and Southside people living in the city. Both sides are practically aware of how busy the bridge is every day which prompts them to stay within their region and only to travel to either side when absolutely necessary. And then there are the beaches in Sydney. Beaches here are separated by heaps of rock cliff faces all the way up the coast. So you’re not just seeing a long stretch of sandy beaches along the coasts which also adds interest in and of itself.
This is why Sydney is such a popular destination not just for travel but as well as investing in real estate. Because imagine a huge city that is also close to such a unique view of the harbour and beautiful beaches, you know for sure your property investment is going to flourish. It’s a city that has that lifestyle factor which is why it’s so in demand, resulting to increase in property value.
It’s A Highly Desirable International City
When you think of big cities, the image you can usually picture in your head is busy. While Sydney is pretty much just as busy as any other big city, it’s also highly desirable to live in because the locals actually embrace this medium and high density of population. In fact, apartments are a more common choice for people to live in than houses because not only that it’s more affordable but also because they want to accommodate as many people in the city as possible.
So, if you’re determined to invest in Sydney then don’t hesitate to go for apartments since it is actually the type of property that is in demand in the city. Just remember to make your units visible and desirable to those who are looking into listings. Since the competition will most likely be high, hiring a Sydney Matterport 3D tour provider to help achieve this is a must. Just as you looked into possible investments and chose an available property with a virtual tour that appealed to you, apartment hunters will be attracted by the tours as well.
The Population In The City Will Grow By 25% In 20 years
Sydney is the largest and oldest city in Australia. So population growth is to be expected and congestion is normal. In fact, it’s the Congestion Capital of Australasia — the road network and getting around is actually slower than New York, where the average is 72.5 kilometres an hour, including the M2 and the M7.
You have to keep that in mind when considering to invest in Sydney because transportation around it will be the main thing that can make or break your investment depending on what area you choose to put your money in. You would definitely want to choose an area that is close to the train as much as possible. Because in such a crowded city like Sydney, future tenants will want to live near the train to make access around the city easier for them. So if you’re investing, make sure you follow these trains, because this is going to give you the best chance of getting wonderful growth in this city.
Sydney Is An Outdoor Lifestyle
If you’re thinking of buying a house, some outdoor space is great — but if you’re thinking of buying a unit, terraces and balconies are absolutely critical. And the bigger you can get, the absolute better! Because people Sydney can and will enjoy it a lot since the city offers and inspires the outdoorsy lifestyle. Why?
Well, there is no extreme climate for one which allows people to stay longer outside all year round. Add that to the fact that almost all sides of the city are spoilt for choice when it comes to beaches, there’s the harbour, the beautiful parks and gardens do not disappoint either. All of these things are a huge driving force for people to get out and actually enjoy being out.
Sydney may have the CBD which is largely an international workplace attracting internationally high salaries, but the city also offers human interest and human behaviour elements that is centred on the outdoors which gets people hooked on.
Understand The Auction Process
Investors need to understand the auction process but in Sydney, you also have this exchange system called gazumping. This is where the vendor signs, the buyer signs and then once the contract is exchanged, only then we’ve got a deal.
Quite often people will have a verbal agreement that they’ll get the deal done. But if someone else comes along and exchanges before they do, that’s what’s called gazumping — you miss out on the property; you think you’ve got the deal done.
Therefore, if you want to secure a property and get the best deal in the city, you have to get all your due diligence done in advance and give them an unconditional contract. The challenge with this is you can do all that and still not get the property because someone else moved quicker than you and you got gazumped. Since it’s an auction centric city, it’s important that you understand that this kind of exchange system is practised here and that it can happen to you.